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China’s Trade Surges Despite US Tariff Threats

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China’s overseas trade grew at a faster pace than expected last month, official data showed Monday, amid fresh fears of a major escalation in the tariff war between Beijing and Washington.

Exports jumped 8.3 per cent year on year in September, the General Administration of Customs said, beating a Bloomberg forecast of 6.6 per cent.

Imports rose 7.4 per cent, the data showed, significantly outpacing a Bloomberg forecast of 1.9 per cent.

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READ ALSO:US, China Agree To Slash Tariffs In Trade War De-escalation

The figures are a promising sign for the Chinese economy, which has in recent years been mired in a persistent spending slump just as pressure on its export-reliant manufacturing sector intensifies.

Shipments to the United States — the world’s largest consumer market — picked up last month to reach $34.3 billion, the data showed.

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The figure marked an 8.6 per cent rise from the $31.6 billion recorded in August.

READ ALSO:US Ends Tariff Exemption On Small China Shipments

Concerns spiked over the weekend that this year’s trade war between the world’s top two economies will worsen further following US President Donald Trump’s threat to impose additional 100 per cent tariffs on all Chinese goods.

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Beijing, in turn, accused Washington of acting unfairly, with its Ministry of Commerce on Sunday calling the threat a “typical example of ‘double standards’”.

Trump struck a more conciliatory tone on Sunday, writing in a social media post that the United States “wants to help China, not hurt it”.

AFP

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Xenophobia: FG To Repatriate Over 1,000 Nigerians From South Africa

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Nigerians in Diaspora Commission (NiDCOM) says more than 1,000 Nigerians in South Africa have undergone screening for voluntary repatriation being facilitated by the Federal Government.

Mrs Abike Dabiri-Erewa, Chairman/Chief Executive Officer of NiDCOM, disclosed this in an interview with the News Agency of Nigeria (NAN) in Abuja on Saturday.

Dabiri-Erewa said the screening was being conducted jointly by the Nigerian High Commission in Pretoria and South Africa’s Department of Home Affairs.

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READ ALSO: Nigeria’s Embassy In South Africa Disconnected Over Unpaid Electricity Bill

According to her, Saturday marked the third day of the exercise for Nigerians intending to voluntarily return home from South Africa.

The turnout at the High Commission of Nigeria in Pretoria has been truly impressive.

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“The screening started early on Saturday, and Nigerians came out in large numbers to participate in the process.

“In spite of the emotional atmosphere surrounding the prevailing tensions and uncertainty, the exercise has been smooth, peaceful, organised, and highly professional under the supervision of the Nigeria’s Acting High Commissioner, Amb. Olatunde Ajayi.

READ ALSO: South African Ambassador Found Dead Outside Paris Hotel

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More than 1,000 Nigerians have registered for the voluntary evacuation, and many more are registering.

“All things being equal, the flights are expected to commence next week through Air Peace, as President Bola Tinubu has approved funds for that purpose,” she said.

Dabiri-Erewa added that five flights are expected to be deployed for the repatriation, with the first batch of evacuees scheduled to depart for Nigeria next week.

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NAN reports that the repatriation of Nigerians is coming amid safety concerns of foreign nationals following recent anti-immigrant protests in parts of South Africa.

 

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Gunmen Shoot 12 People Near Ohio Festival In US

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At least 12 people were injured in a shooting near a community festival in the US state of Ohio, prompting a police search for those responsible.

The incident occurred on Saturday near the Old West End Festival in Toledo, according to the Toledo Police Department.

Police said officers responded to reports of gunfire at about 5:37 p.m. local time near the festival grounds.

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In an update, authorities said 10 of the victims were in stable condition, while two remained in critical condition.

READ ALSO:US Plans To Use Frozen Iranian Assets To Compensate Gulf Allies

Speaking on the incident, Toledo Deputy Police Chief Joe said preliminary investigations suggest the shooting involved two individuals.

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It appeared that two people fired weapons and they were probably shooting at each other,” he said, adding that the victims range in age from 16 to 61 years.

Earlier, Toledo Mayor Wade Kapszukiewicz told local broadcaster WTOL 11 that all of the victims were expected to survive.

The Old West End Festival is a two-day annual event that celebrates one of the largest historic districts in the United States. Activities include live music, food vendors, shopping, house tours, and other community attractions.

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READ ALSO: Gunmen Attack Agatu Community, Kill Traditional Ruler, Wife, Others

Police said investigators are focusing on the area around Delaware Avenue and Robinwood Avenue, where festival activities were taking place.

Videos shared on social media appeared to show festival attendees running for safety as multiple gunshots rang out. Other footage showed emergency responders attending to injured individuals and transporting some victims on stretchers. The videos have not been independently verified.

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Reacting to the incident, Ohio Governor Mike DeWine expressed concern and offered support to those affected.

READ ALSO: Gunmen Open Fire On Ogoni Monarch In Rivers

“I am deeply concerned about the situation in Toledo tonight,” he said.

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Summer festivals should be safe spaces for families to spend time together without fear of violence. Fran and I are praying for everyone impacted by the incident at the Old West End Festival, and we are confident that law enforcement will locate the suspects involved in this senseless crime.”

Police have not announced any arrests and continue to search for the suspects.

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US Plans To Use Frozen Iranian Assets To Compensate Gulf Allies

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The United States (US) Treasury Department is considering the use of frozen Iranian assets to help Gulf allies recover from damage linked to attacks by Iran during the ongoing conflict, according to a source familiar with Treasury Secretary Scott Bessent’s position.

The source told CBS News on Saturday that the Treasury intends to explore all available legal authorities to make Iranian assets accessible for rebuilding and repair efforts related to any future damage caused by Tehran.

According to the source, Bessent has directed the Treasury Department to obtain detailed estimates from Gulf allies on the costs of repairing damage attributed to Iran since the conflict began.

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READ ALSO:Strait Of Hormuz: Pakistan Thanks Trump For Pausing ‘Project Freedom’

The department is also assessing whether Iranian assets could be used to fund repairs for damage already sustained by Gulf countries during the war.

The source, however, said it remains unclear which specific Iranian assets could be utilised. These could include frozen cash held in foreign bank accounts or physical assets such as oil tankers.

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The development comes as indirect peace talks between the United States and Iran continue.

READ ALSO: I Have To Be Involved In Choosing Iran’s Next Leader – Trump

Iran has maintained that any agreement would require the removal of sanctions and the release of billions of dollars in Iranian assets frozen abroad.

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Since the conflict erupted in late February, Iran has carried out intermittent missile and drone attacks targeting Gulf states, including Saudi Arabia, the United Arab Emirates, Kuwait, Bahrain, Qatar, and Oman.

The reported Treasury proposal signals a possible shift in how the United States may seek to address the financial impact of the conflict on its regional partners while discussions with Tehran continue.

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